Vietnam earned more than 2 billion USD from exporting 1.2 million tonnes of rubber during January-November, up 39 percent in value and 8.4 percent in volume, according to the General Department of Vietnam Customs.
Vietnam earned more than 2 billion USD from exporting 1.2 million tonnes of rubber during January-November (Photo: VNA)
Hanoi (VNA) – Vietnam earned more than 2 billion USD from exporting1.2 million tonnes of rubber during January-November, up 39 percent in valueand 8.4 percent in volume, according to the General Department of VietnamCustoms.
This was the first time in four recent years rubber export value exceeded 2billion USD. The value exceeded 2 billion USD in 2010 then hit a record high of3.2 billion in 2011. However, export revenue fell sharply during 2014-2016, fallingto below 2 billion USD.
Sharp rises in rubber export prices have improved the product’s export value.In the first ten months of this year, the average price of rubber increased32.6 percent to 1,680 USD per tonne.
However, the Ministry of Industry and Trade said global natural rubber pricesstarted to dip from mid-November while rubber supply increased. According tothe Association of Natural Rubber Producing Countries, global rubber output asof October went up 5 percent to 10.43 million tonnes.
China remained largest importer of Vietnamese rubber. In the first 11 months ofthe year, the country purchased more than 785,800 tonnes of Vietnamese rubberworth nearly 1.29 billion USD, about 64 percent in quantity and value of thecountry’s rubber exports.-VNA
The Ministry of Agriculture and Rural Development has valued the Vietnam Rubber Group, the country’s largest rubber company, at 4 trillion VND (177.78 million USD), not including its land.
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Vietnam earned more than 2 billion USD from exporting 1.2 million tonnes of rubber during January-November (Photo: VNA) 
